Sipp firm Corporate and Professional Pensions who are based in Weymouth have fallen into administration after they were unable to pay a string of Financial Ombudsman Service (FOS) decisions upheld against it.
The most recent complaints related to clients’ funds invested into Sustainable AgroEnergy. The investments involved the lease of plots of land with trees being planted and investors receiving an annual income or additional payments.
Sustainable AgroEnergy went into bankruptcy after action was taken by the Serious Fraud Office, making the investments worthless.
The FOS raised concerns about the due diligence undertaken by Corporate and Professional Pensions in relation to the investment and the fact it was made by unregulated businesses, with no regulated financial adviser involved.
The FCA publish a notice on their website on Tuesday 1st February with the SIPP firm’s administrators, Smith & Williamson, contacting clients within seven days to tell them what to do next.
Any complaints made against Corporate and Professional Pensions to the FOS will be transferred to the Financial Services Compensation Scheme, which will lead the investigations.
Have you been mis-sold to?
If you think you have been mis-sold a pension or were given bad advice on your investments from a Financial Adviser or SIPP Provider, that has cost you financially, you may be entitled to compensation. Our SIPP claims experts at Smooth Commercial Law can help you make a quick, hassle-free claim for compensation.
To make an appointment or to find out more about how our SIPP claims experts can help you make a claim for compensation for a mis-sold SIPP, telephone 0800 051 2579, email us at firstname.lastname@example.org or complete our quick online enquiry form and one of our mis-sold SIPP claims experts will get in touch with you promptly.